Mumbai, 2 July, 2014

Gujarat Gas Company zoomed 7.6% to Rs 533 in the Bombay Stock Exchange after Gujarat Finance Minister Saurabh Patel announced that the above mentioned company and Gujarat State Petroleum Corporation (GSPC) will be merged this year.

Minister Patel during his budget speech in Gujarat assembly yesterday said that the merger which shall happen during this fiscal year will make GSPC India’s biggest gas distribution company.

The stock opened at Rs 509, touched a high of Rs 579 and a low of Rs 504 on the BSE. A total of 1,068,905 shares have been exchanged on the BSE so far.